Market
Commentary
9:24 AM: NF struggling to cross PDH and
moving back and forth around PDC, DL is the resistance price broke during
closing time yesterday.
9:35 AM:
Trade 1 – BPB of PDH long at 9654 with Initial SL 9645, FTA BRN 46 point
away.
<< Thought Process behind this trade “Trend
– Bullish, Bias – Upside as price broke PDH, Good Location, BPB is confirmed
setup, risk is under 10 points, FTA far away, prices broke after 2 days of
consolidation” >>
9:40 AM: Moved SL to 9648, below PDH
9:52 AM: Moved SL to 9654, near to cost. Rom
Now I look to hide SL behind swing points,
expecting price to move up with
orderly pullbacks.
10:06 AM: Moved SL to 9656, break even. No much
momentum so far
10:24 AM: Moved SL to 9660, as price broke
DH
11:09 AM: Moved SL to 9669, below recent
swing low
11:45 AM: Drawn range 9683-70, let’s see if
BOF of RL signal comes… giving re-entry chance if SL hit. If sharp fall below
MSP/RL, I will be out of profiting trade. else I will look to take long trade
on BOF signal
12:21 PM: Recent Impulsive wave turned out
to be range, indicating bulls losing strength. A counter trend short is not a
bad idea if BOF of DH comes, but I will stick to existing position.
12:32 PM: Moved SL to 9677, below low made
before breaking RH/DH
12:47 PM: Exited with gain of 21 points
13:51 PM: Waited for BOF of RL signal,
which not happened so far.
14:10 PM: Missed to place BPB of DH long
order on time, let’s see PA at BRN
15:00 PM: Looks like BOF of BRN signal
coming, but I am avoiding new positions at this point of time. Done for today.
Points earned: +21
